TPICQ · Tpi Composites, Inc · Financials
Substantial doubt about the company's ability to continue as a going concern.
“While the Company is actively undergoing a restructuring, there can be no assurance that such restructuring will be successfully implemented or that it will be sufficient to mitigate the financial conditions raising substantial doubt about our ability to continue as a going concern. As a result, substantial doubt exists that the Company will be able to continue as a going concern for a period of at least twelve months from the issuance date of this Annual Report on Form 10-K.”View the 10-K filed Mar 25, 2026
Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.
Chart any reported metric, KPI or segment over time — the full statement history lives here
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $918.46M | $889.99MG | $863.92MG | $918.46M | $1.47B | $1.14B | $1.44B | $1.03B | $955.2M | $769.02M | $585.85M | $320.75M | |
| $1.03B | $962.18M | $974.66M | $1.42B | $1.51B | $1.16B | $1.36B | $956.78M | $844.73M | $682.15M | $544.11M | $306.1M | |
| -$110.6M | -$72.19M | -$110.74M | $55.54M | -$37.6M | -$16.23M | $77.85M | $72.84M | $110.47M | $86.87M | $41.75M | $14.65M | |
| -12.04% | -8.11% | -12.82% | 6.05% | -2.55% | -1.42% | 5.42% | 7.07% | 11.57% | 11.3% | 7.13% | 4.57% | |
| $28.43M | $46.17M | $47M | $32.35M | $29.25M | $33.5M | $39.92M | $43.54M | $40.37M | $33.89M | $14.13M | $9.18M | |
| $400K | $900K | $1.8M | $1.3M | $3.1M | $500K | $1.9M | $900K | $900K | $400K | $800K | $800K | |
| $26.47M | $30.48M | $38.87M | $45.48M | $52.59M | $49.67M | $38.58M | $26.43M | $21.7M | $13.19M | $11.42M | $7.44M | |
| $25.59M | $1.32M | $40K | -$30K | $12.54M | $205K | $3.93M | — | — | — | — | — | |
| -$179.37M | -$134.77M | -$173.16M | $13.41M | -$91.83M | -$55.67M | $15.89M | $24.72M | $70.1M | $52.97M | $27.62M | $5.48M | |
| -19.53% | -15.14% | -20.04% | 1.46% | -6.24% | -4.87% | 1.11% | 2.4% | 7.34% | 6.89% | 4.71% | 1.71% | |
| -$152.9M | -$104.29M | -$134.29M | $58.89M | -$39.23M | -$6.01M | $54.47M | $51.15M | $91.8M | $66.16M | $39.04M | $12.92M | |
| $88.99M | $84.72M | $12.11M | $5.03M | $13.64M | $10.38M | $8.02M | $10.42M | $12.38M | $17.61M | $14.57M | $7.24M | |
| — | — | — | — | — | $102K | $157K | $181K | $95K | $344K | $161K | $186K | |
| -$91.66M | -$80.28M | -$5.06M | $1.61M | -$34.24M | -$22.31M | -$8.48M | -$22.47M | -$15.57M | -$22.28M | -$15.96M | -$11.2M | |
| -$320.62M | -$215.04M | -$178.22M | $15.02M | -$126.07M | -$77.98M | $7.41M | $2.25M | $54.53M | $30.7M | $11.66M | -$5.72M | |
| $3.73M | $7.71M | $11.11M | $32.14M | $29.83M | $7.41M | $23.12M | -$3.03M | $15.8M | $3.65M | $3.98M | $925K | |
| -$340.8M | -$240.71M | -$201.78M | -$65.31M | -$159.55M | -$19.03M | -$15.71M | $5.28M | $38.73M | $27.04M | $7.68M | -$6.65M | |
| -37.11% | -27.05% | -23.36% | -7.11% | -10.84% | -1.66% | -1.09% | 0.51% | 4.06% | 3.52% | 1.31% | -2.07% | |
| -$340.8M | -$240.71M | -$177.61M | -$124.21M | -$165.59M | -$19.03M | -$15.71M | $5.28M | $38.73M | $21.57M | -$1.74M | -$20.58M | |
| — | — | — | — | -$186.6M | -$28.41M | -$24.93M | — | — | — | — | — | |
| USD/shares | -$7.02 | -$5.07 | -$4.16 | -$2.96 | -$4.43 | -$0.54 | -$0.45 | $0.15 | $1.14 | — | — | — |
| USD/shares | -$7.02 | -$5.07 | -$4.16 | -$2.96 | -$4.43 | -$0.54 | -$0.45 | $0.15 | $1.11 | — | — | — |
| shares | 48.54M | 47.46M | 42.67M | 41.96M | 37.42M | 35.53M | 35.06M | 34.31M | 33.84M | 17.53M | 4.24M | 4.24M |
| shares | 48.54M | 47.46M | 42.67M | 41.96M | 37.42M | 35.53M | 35.06M | 36M | 34.86M | 17.62M | 4.24M | 4.24M |
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2017–FY2025: $14.88M in buybacks.
Debt Profile
Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.
Reported debt balances
Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.
| Reported balance | As of | Amount | Source |
|---|---|---|---|
| Finance lease liabilities | 2025-12-31 | USD 202,000 | 10-K filed 2026-03-25 |
Related accounting measures — not additional borrowingCarrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year.
| |||
| Long-term debt and lease obligations, including current maturities | 2025-12-31 | USD 456,053,000 | 10-K filed 2026-03-25 |
Related accounting measures — not additional borrowingCarrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year.
| |||
| Operating lease liabilities | 2025-12-31 | USD 83,563,000 | 10-K filed 2026-03-25 |
Related accounting measures — not additional borrowingCarrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year.
| |||
Covenants
Covenant terms have not yet been verified for this profile.
The balance figures do not establish whether covenants apply or whether the company complies with them.
Loans, facilities and notes
The instrument breakdown is not yet verified. Read the debt note in the linked report for borrowing terms and maturity conditions.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
Peer medians compare against the 5 similar-size Specialty Industrial Machinery companies (of 80 listed).
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Mexico Segment | $716,818,000 | $696,762,000 | $589,539,000 | $646,615,000 | $597,598,000 | $493,492,000 | $435,606,000 | $268,756,000 |
| India Segment | $129,173,000 | $166,765,000 | $241,235,000 | — | — | — | — | — |
| United States Segment | $65,775,000 | $19,723,000 | $28,151,000 | — | — | — | — | — |
| Other Segment | $6,691,000 | $6,741,000 | $4,994,000 | — | — | — | — | — |
| Asia Segment | — | — | — | — | — | — | $393,809,000 | $306,255,000 |
| Europe Middle East Africa and India Segment | — | — | — | — | — | — | — | $290,897,000 |
| Europe, Middle East and Africa Segment | — | — | — | $568,992,000 | $482,220,000 | $373,545,000 | $437,081,000 | $290,897,000 |
| India Segment | — | — | — | $217,964,000 | $200,229,000 | $91,729,000 | $687,000 | — |
| United States Segment | — | — | — | $45,168,000 | $192,339,000 | $184,288,000 | $169,317,000 | $163,716,000 |
By Geography (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Mexico | $716,818,000 | $696,762,000 | $589,539,000 | $646,615,000 | $597,598,000 | $493,492,000 | $435,606,000 | $268,756,000 |
| India | $129,173,000 | $166,765,000 | $241,235,000 | $217,964,000 | $200,229,000 | $91,729,000 | $687,000 | — |
| United States | $65,775,000 | $19,723,000 | $28,151,000 | $45,168,000 | $192,339,000 | $184,288,000 | $169,317,000 | $163,716,000 |
| Other | $6,691,000 | $6,741,000 | $4,994,000 | — | — | — | — | — |
| China | — | — | — | — | — | — | $393,809,000 | $306,255,000 |
| Spain | — | — | — | $2,837,000 | $1,228,000 | — | — | — |
| Türkiye | — | — | — | $566,155,000 | $480,992,000 | $373,545,000 | $437,081,000 | $290,897,000 |
| EMEA | — | — | — | $568,992,000 | — | — | — | — |
By Product & Service (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Wind Blades | $869,921,000 | $860,222,000 | $828,689,000 | — | — | — | — | — |
| Field Services Inspection and Repair Services | $48,536,000 | $29,769,000 | $35,230,000 | — | — | — | — | — |
| Field Services Inspection and Repair Services | — | — | — | $54,915,000 | $32,725,000 | $14,304,000 | $18,578,000 | — |
| Other | — | — | — | $19,688,000 | — | $8,650,000 | $11,655,000 | $18,250,000 |
| Precision Molding and Assembly Systems | — | — | — | $2,938,000 | — | $14,939,000 | $48,680,000 | $48,853,000 |
| Transportation | — | — | — | $44,002,000 | $37,312,000 | $36,196,000 | $28,870,000 | $29,254,000 |
| Wind Blades | — | — | — | $1,423,824,000 | $1,402,349,000 | $1,068,965,000 | $1,328,717,000 | $933,267,000 |
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
By Segment (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Other Segment | $218,000 | -$913,000 | -$1,176,000 | — | — | — | — | — |
| India Segment | -$114,000 | $5,920,000 | $24,928,000 | — | — | — | — | — |
| United States Segment | -$64,137,000 | -$43,561,000 | -$36,100,000 | — | — | — | — | — |
| Mexico Segment | -$115,339,000 | -$96,214,000 | -$160,807,000 | — | — | — | — | — |
| Asia Segment | — | — | — | — | — | — | $24,132,000 | $28,147,000 |
| Europe, Middle East and Africa Segment | — | — | — | $69,565,000 | $39,609,000 | $23,331,000 | $70,449,000 | $51,774,000 |
| India Segment | — | — | — | $17,481,000 | -$845,000 | -$16,832,000 | -$3,948,000 | — |
| Mexico Segment | — | — | — | -$47,889,000 | -$84,691,000 | -$11,958,000 | $3,533,000 | $12,154,000 |
| United States Segment | — | — | — | -$25,752,000 | -$45,899,000 | -$50,214,000 | -$78,278,000 | -$67,357,000 |
Operating Margin by Segment (%)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Mexico Segment | -16.1% | -13.8% | -27.3% | — | — | — | — | — |
| India Segment | -0.1% | 3.5% | 10.3% | — | — | — | — | — |
| United States Segment | -97.5% | -220.9% | -128.2% | — | — | — | — | — |
| Other Segment | 3.3% | -13.5% | -23.5% | — | — | — | — | — |
| Asia Segment | — | — | — | — | — | — | 6.1% | 9.2% |
| Europe, Middle East and Africa Segment | — | — | — | 12.2% | 8.2% | 6.2% | 16.1% | 17.8% |
| India Segment | — | — | — | 8% | -0.4% | -18.3% | -574.7% | — |
| United States Segment | — | — | — | -57% | -23.9% | -27.2% | -46.2% | -41.1% |